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Dear PoP – Do I Need a Realtor?

by Prince Of Petworth October 12, 2010 at 1:30 pm 62 Comments


Photo by PoPville flickr user ekelly80

“Dear PoP,

I bought a one bedroom in a coop four years ago and now I am trying to sell as I am leaving town. I’ve just finished renovating the kitchen and bathroom and all advice says I could price at $315k. My question is: why do i need a realtor? the 6% that i will pay realtors to facilitate the sale translates to about $21,000 and would eat up any potential of making money on my place. actually, my question is: wouldn’t a buyer prefer to pay $11,000 less than market value for my place without a realtor, effectively splitting with me what would be wasted on a realtor otherwise? I know there are a few other fees associated with a sale, but they are all pretty minor in comparison to the 6% realtor fee. seems like a lot of money going to realtors that could be better used in a tough market to lower the price of homes for the buyer and give sellers a better chance to break even or walk away with a small amount of money.”

Back in January we spoke about whether or not folks recommended using a realtor for purchasing a house. But what about for selling a place, specifically the situation above? What would you recommend in this situation?

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